Frank Naylor

Frank Naylor served as Chief Investment Officer of BT Pension Scheme Management (BTPSM), the investment arm of the BT Pension Scheme, which he joined in January 2004. In that role he advised the Trustee on investment strategy and was responsible for implementing that strategy within an agreed delegated authority, working on portfolio construction and manager selection. BTPS is the UK's largest corporate defined-benefit pension scheme, with more than £57bn in assets and roughly 280,000 members, so his mandate covered a very large, diversified institutional portfolio spanning listed equities, fixed income and credit, private markets, and liability-driven / de-risking strategies.

Before joining BTPSM, Naylor worked at WestLB Asset Management, where he managed a multi-strategy hedge fund and held the role of CIO for Global Equities and Global Balanced portfolios. This background in cross-asset portfolio management informed the diversified, risk-managed approach he took at BTPS.

Naylor was CIO for 16 years, retiring on 30 June 2020. He was succeeded by Wyn Francis, who had joined BTPSM in 2008 as Head of Investment Risk and became Deputy CIO in 2014, working alongside Naylor on portfolio construction and manager selection. On his departure, BTPSM CEO Morten Nilsson said: *"We thank Frank for his long service to the scheme, for his significant contribution over the years and for his expertise, calm head and wise counsel."*

• Operated as an institutional asset owner, not a venture/angel investor — allocating a large defined-benefit pension portfolio across public equities, fixed income, credit, and private/alternative markets.
• Emphasis on portfolio construction, diversification, and manager selection across the scheme's delegated mandate, advising the Trustee on overall investment strategy.
• Focus on liability management and de-risking appropriate to a maturing DB scheme — matching assets to long-term pension liabilities and reducing risk over time.
• Tenure aligned with BTPSM's move toward its net-zero goal; the scheme framed the CIO transition around "achieving our net-zero goal."
• There is no verifiable evidence of a personal seed/angel investing practice, check sizes, or a target startup profile; any such claims in aggregator data should be treated as unconfirmed.